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"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

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Ratios & Harmonics: a Different Way to Trade

  • #50,221
  • May 25, 2021 7:00am May 25, 2021 7:00am
Quoting Pair-me-up
{quote} Why do you struggle with finding these areas and drawing them? As for the rotation candle thingy... if they work for you great. But I see them as a lagging indicator, no different than a moving average. I use limit orders where I think price will kiss and then move away in my favor. I have mentioned this before.... look to the left.. Ask yourself.. Why did price stop at that exact point and turn around? Once you really think about that question, you will find what you need. Or you can watch Mr. Pip's video about how he draws them in areas...
Hi Pair-me-up,

I have done several forex courses in the past and they all have their own way of identifying these areas. I think I have it now. All I had to do was to make it my own. Backtesting does wonders. Areas of violence is a good way to put it.

So far I have yielded fantastic results with backtesting. My accuracy is much better than I expected, but there is still a lot of work to be done.

Kind regards

Daubert
  • #50,222
  • May 25, 2021 7:05am May 25, 2021 7:05am
Quoting 6288monkey
{quote} Daubert , i am 10years in trading and still not profitable , just a note to you. I know about forex in 19 and currently 29 still not profitable. Maybe i am not so good at trading,but remind you that only 1 percent make it to trade for a living. Much lower than any profession.
Thank you 6288monkey.

I started backtesting the past 2 days and I am really surprised by my accuracy and results. I think it has to do with the fact that I'm not live at the moment. My results might change when I go live early next year, but I hope not. Mr Pip's method just drove it home for me. It was the method I was always been looking for. It is simple and right down to the core of price movement and action. At this stage I do not complicate anything. I just look at the chart and trade.

I hope things turn around for you soon.

Happy trading and good luck.
  • #50,223
  • May 26, 2021 9:07am May 26, 2021 9:07am
Quoting Daubert
{quote} Hi Pair-me-up, I have done several forex courses in the past and they all have their own way of identifying these areas. I think I have it now. All I had to do was to make it my own. Backtesting does wonders. Areas of violence is a good way to put it. So far I have yielded fantastic results with backtesting. My accuracy is much better than I expected, but there is still a lot of work to be done. Kind regards Daubert
Here is a trade I just entered just a little while ago.. I used a limit order.
Attached Image (click to enlarge)
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Luck has no place in trading. Leave that for the poker table.
  • #50,224
  • May 26, 2021 9:22am May 26, 2021 9:22am
Quoting Pair-me-up
{quote} Here is a trade I just entered just a little while ago.. I used a limit order.{image}
Now trailing....
Attached Image (click to enlarge)
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Luck has no place in trading. Leave that for the poker table.
  • #50,225
  • May 27, 2021 2:36am May 27, 2021 2:36am
Quoting Pair-me-up
{quote} Now trailing.... {image}
Hi Pair-me-up,

Why did you enter there? I noticed the market is making lower highs. I just want to learn from you.

Thank you

Daubert
  • #50,226
  • May 27, 2021 10:25am May 27, 2021 10:25am
Quoting Daubert
{quote} Hi Pair-me-up, Why did you enter there? I noticed the market is making lower highs. I just want to learn from you. Thank you Daubert
Why did I enter there?...Because I looked at the higher order flow and worked down from there. Price moves in ranges. So, it is important to pay attention to when/if a range is going to be tested. Price doesn't care about some rotation candle. Price targets the top and bottom of a range and then eventually breaks out. I posted some notes on this thread before. Maybe start with that.
Luck has no place in trading. Leave that for the poker table.
  • #50,227
  • Edited 9:07pm May 27, 2021 11:04am | Edited 9:07pm
Attached Image (click to enlarge)
Click to Enlarge Name: MYM 06-21 (233 Tick) 2021_05_27 (11_58_07 PM).png Size: 72 KB

Quoting Pair-me-up
{quote} Why did I enter there?...Because I looked at the higher order flow and worked down from there. Price moves in ranges. So, it is important to pay attention to when/if a range is going to be tested. Price doesn't care about some rotation candle. Price targets the top and bottom of a range and then eventually breaks out. I posted some notes on this thread before. Maybe start with that.
This is from right now.. 1 trade -10 ticks. Second one is doing better. Again.. no rotation candles... Remember that structure is the king and that structure is just a bunch of ranges interacting with each other. O.k. I gotta go. Laterz homie.
Luck has no place in trading. Leave that for the poker table.
  • #50,228
  • Jun 1, 2021 2:03pm Jun 1, 2021 2:03pm
Quoting Matts Micro
{quote} Hey Daubert, I usually use MT4 on an EA Tick chart but my broker has just changed the name of its symbols (EURUSD to EURUSD.a) with the new regulations that has just been introduced to Aus. I changed platforms to my cTrader account using the Tick charts while I waited for my history charts to rebuild on MT4 with the new charts. I have however stayed on the cTrader account because the charts are smooth and easy to use, there is quite a large amount of slippage and the spreads are wider however on cTrader. I will get back to MT4 but I may...
Did we lose half of this conversation because it was swapped to another thread or was I replying in that thread??...
https://www.forexfactory.com/thread/post/13563347#post13563347

And to think of all of those pages where we asked Admin why this thread was put into the Commercial Content side of the site with no answer...

Ps Sorobanista, I noticed I missed a part of your question about the recorded history file. Its not located in the history file but: MQL4/files/TickData (for my particular EA).
As the lights go by so too do the shadows move
  • #50,229
  • Jun 28, 2021 12:34am Jun 28, 2021 12:34am
Short USDCHF 1hour - will update when price reach New Low or SL.

Those who are still trading Mr.Pip swing way , please post some chart.
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  • #50,230
  • Jun 28, 2021 6:56am Jun 28, 2021 6:56am
Price reach SL
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  • #50,231
  • Jun 28, 2021 7:02am Jun 28, 2021 7:02am
CADJPY buy 1h

got alot other trade going on , just posting one at a time.
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  • #50,232
  • Jun 28, 2021 8:25am Jun 28, 2021 8:25am
Looking for a trade within my Area Of Interest.
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As the lights go by so too do the shadows move
  • #50,233
  • Jun 28, 2021 9:30am Jun 28, 2021 9:30am
Quoting Matts Micro
Looking for a trade within my Area Of Interest. {image}
There's my entry with a Rotation Candle Sequence.
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As the lights go by so too do the shadows move
  • #50,234
  • Jun 28, 2021 9:44am Jun 28, 2021 9:44am
Quoting Matts Micro
{quote} There's my entry with a Rotation Candle Sequence. {image}
I also got a trade on EURUSD , new low already , let see price goes
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  • #50,235
  • Jun 28, 2021 10:29am Jun 28, 2021 10:29am
CADJPY stop out
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  • #50,236
  • Jun 28, 2021 10:32am Jun 28, 2021 10:32am
EURCHF short 1h
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  • #50,237
  • Jun 29, 2021 4:52am Jun 29, 2021 4:52am
Quoting Matts Micro
{quote} There's my entry with a Rotation Candle Sequence. {image}
So here is this trade. I closed at eod because I don't like leaving trades open for swap especially shorts because they can easily get swiped by broker spreads. The trade has an outcome however. I may have taken TP at the 0% fib line or may have tailed for a further push down at the st swings (would be still open) for the full 1:1 or 1.27% fib. that my rules allow for. Point is the trade played out the expectation.

BE+
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As the lights go by so too do the shadows move
  • #50,238
  • Jun 29, 2021 5:31pm Jun 29, 2021 5:31pm
Hello everyone.

I am brand new here, but I find the way Damien teaches to be fairly easy to follow so I have started trying to learn from his Ratio's and Harmonics lessons videos on YouTube.

I have watched Lesson 1: Structure Analysis quite a few times and I think I am starting to grasp it. I took a look at /MYM today and tried identifying the NSL/NSH and the LH/HL that Damien teaches in Lesson 1. Could someone give me some feedback on anything I could do better or mistakes I made have made here? Based on what I have in my chart, it looks like the expectations work out 22/25 times (88%). That does not include the initial NSH in this case. Does that look correct?
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  • #50,239
  • Jun 30, 2021 3:54am Jun 30, 2021 3:54am
Quoting Flookiee
Hello everyone. I am brand new here, but I find the way Damien teaches to be fairly easy to follow so I have started trying to learn from his Ratio's and Harmonics lessons videos on YouTube. I have watched Lesson 1: Structure Analysis quite a few times and I think I am starting to grasp it. I took a look at /MYM today and tried identifying the NSL/NSH and the LH/HL that Damien teaches in Lesson 1. Could someone give me some feedback on anything I could do better or mistakes I made have made here? Based on what I have in my chart, it looks like the...
Hi Flookie,

Welcome to thread and the journey Mr Pip has set out in front of us all.

You have got the concept down well. Not to nit pick but you made 1 mistake I can see: Directly after the very HH of the chart you marked a HL. For it to make a HL it needs to be followed by a HH which it didn't, but good job overall.

You will get to the lessons on your travels so I wont interfere until I see any mistakes. Please keep posting your lessons and we will try to help where we can.

Practice hard and understand that it is a long road but that it has the best paved foundation that I have found in 10+ years of trading.

GL,
Matt.
As the lights go by so too do the shadows move
  • #50,240
  • Jun 30, 2021 10:04am Jun 30, 2021 10:04am
Quoting Matts Micro
{quote} Hi Flookie, Welcome to thread and the journey Mr Pip has set out in front of us all. You have got the concept down well. Not to nit pick but you made 1 mistake I can see: Directly after the very HH of the chart you marked a HL. For it to make a HL it needs to be followed by a HH which it didn't, but good job overall. You will get to the lessons on your travels so I wont interfere until I see any mistakes. Please keep posting your lessons and we will try to help where we can. Practice hard and understand that it is a long road but that it...
Thank you very much for your feedback!

I think I see what you mean now. So in that situation, without the benefit of hindsight, would it be reasonable to think that it is indeed a HL until the price tells you otherwise? Or should we never have the expectation of HL and LH and instead only have expectations for NSH and NSL?

Does that make sense? Because if I was looking at this in real time, I would think that after that HH I would expect a HL there. It ultimately did fail, but I'm just thinking how I would analyze that failed bounce in real time ya know.
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